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Wheat prices are yet to return to their cost before the Russian-Ukrainian crisis (triggered on February 24; editor's note), but that is probably not long from now. According to RFI, recent news holds that there is hope for the standardization of wheat prices. A ton of wheat, which in mid-May had reached 440 euros, that is 288,621 CFA francs, on the European market, fell back to 330 euros, that is, 216,466 CFA francs, in mid-August. In the opinion of François Luguenot, an expert on the agricultural commodities market, "the rise in wheat prices made no sense, and was hardly more than psychological".

This recent price drop was made possible thanks to an agreement reached between Moscow and Kiev on July 22 with the help of the United Nations and Turkey to open and secure Ukraine's maritime routes so as to facilitate the Ukrainian grain exports. Furthermore, Russia's next harvest is quite promising given favourable conditions. Figures released by the U.S. Department of Agriculture (USDA) place the volume of Russian wheat at 88 million tons as of mid-August, of which 42 million tons are destined for export. Agritel statistics are more positive at 95 million tons. Despite this relative relief, RFI believes the volumes of wheat transported are still below the usual flows.

For Cameroon, it is high time to expand the cultivation of wheat. According to Prof. Eddy Ngankeu, technical advisor number 2 at the Ministry of Scientific Research and Innovation (Minresi), 22 varieties of wheat have already been selected following a mapping of production areas. Four of them, which can be grown in the different agro-ecological zones of the country, have been transferred to the Ministry of Agriculture and Rural Development (Minader). The Agricultural Research Institute for Development (IRAD) has been awarded a 10.3 billion franc grant over a period of five years (2022-2026) for the production and processing of wheat in Cameroon.

Source : Cameroon Business Today No. 276